SCB X Sells Robinhood App for Two Billion Baht
SCB X Plc has sold its Robinhood app to a group led by Yip In Tsoi Group for up to two billion baht. This transaction ensures the sustainability and competitiveness of the Thai-developed food delivery platform. The buyer group consists of Yip In Tsoi Group, Brooker Group, SCT Rental Car, and Loxbit Public Co Ltd.
SCB X Plc, a prominent Thai fintech group, has sold Purple Ventures Co Ltd, the company behind the Robinhood app, to a consortium led by Yip In Tsoi Group for up to two billion baht.
The deal includes an initial payment of four hundred million baht and a performance-based additional payment of up to one point six billion baht.
This sale aims to ensure Robinhood remains a competitive and sustainable food delivery platform for Thais.
Yip In Tsoi Group, along with other investors like Brooker Group Public Co Ltd, SCT Rental Car Co Ltd, and Loxbit Public Co Ltd, now controls Purple Ventures.
SCB X postponed ceasing Robinhood services and other app features, maintaining a strong presence in the Thai market amid the economic slowdown.
The deal includes an initial payment of four hundred million baht and a performance-based additional payment of up to one point six billion baht.
This sale aims to ensure Robinhood remains a competitive and sustainable food delivery platform for Thais.
Yip In Tsoi Group, along with other investors like Brooker Group Public Co Ltd, SCT Rental Car Co Ltd, and Loxbit Public Co Ltd, now controls Purple Ventures.
SCB X postponed ceasing Robinhood services and other app features, maintaining a strong presence in the Thai market amid the economic slowdown.
